“We should not get overtly worried,” the Economic Affairs Secretary Ajay Seth said even as the rupee touched a new low of 80 to the green back before clawing back to 79.92 levels .
The government is not looking at the depreciation of the rupee as a big worry. In terms of addressing the volatility, the rupee is being controlled effectively.
Explaining the government’s stance on the rupee, the Secretary also indicated the central bank nor the government has any target in mind for the rupee, “we don’t aim for any particular target," said the Economic Affairs Secretary.
Ajay Seth went to observe, “We follow a policy of removing the volatility in the exchange rate , so that people who have to import, people who have to export have a very good idea that things are not …that it’s not a volatile market. It is being managed and managed well in terms of taking care of the volatility”.